Common use of Determination of Present Values and Amounts Clause in Contracts

Determination of Present Values and Amounts. This ss. (a) shall apply for purposes of determining the present values of accrued benefits and the amounts of account balances of employees as of the determination date. The present value of the accrued benefit of each employee will equal the sum of: (i) the balance of his or her Account under this Plan (determined for this purpose as of each determination date); and (ii) the present value of his or her accrued benefit, if any, under each of the following plans (determined as of the valuation date that coincides with or precedes the determination date for that plan) under (A) each qualified plan (as described in Code ss. 401(a)) maintained by an Affiliate (i) in which a key employee is a participant or (ii) that enables any plan described in subclause (i) to meet the requirements of Code ss. ss. 401(a)(4) or 410, and (B) each other qualified plan maintained by an Affiliate (other than a plan described in clause (A)) that may be aggregated with this Plan and the plans described in clause (A), provided the aggregation group (including a plan described in this clause (B)) continues to meet the requirements of Code ss. ss. 401(a)(4) and 410.